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Riverbed goes shopping, buys Aptimize, Zeus, but Q2 light

Riverbed Technology announced a pair of international acquisitions designed to build out its portfolio, but the second quarter falls short of estimates.
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Written by Larry Dignan on

Riverbed Technology on Tuesday announced a pair of international acquisitions designed to build out its portfolio.

The company said it will acquire Aptimize Limited, a privately held company in New Zealand. Aptimize is focused on Web content optimization. Aptimize will be lumped into Riverbed's new Web content optimization unit.

Separately, Riverbed said it will acquire Zeus Technology, another privately-held company focused on load balancing and traffic management for cloud environments. Zeus is based in Cambridge, U.K. Zeus CEO Jim Darraugh will lead Zeus as it becomes a unit of Riverbed.

The acquisitions come as Riverbed's second quarter fell short of expectations. The company reported second quarter earnings of $11.3 million, or 7 cents a share, on revenue of $170.3 million, up 35 percent from a year ago. Non-GAAP earnings were 21 cents a share. Wall Street was looking for earnings of 21 cents a share on revenue of $172.8 million.

Riverbed said business was soft in Europe, Middle East and Africa due to a weak economy and the company's inability to execute.

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